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Closing Bell

Closing Bell Overtime: JPMorgan’s Best Day In Three Years; Looking At Next Week’s Regionals Reports; Fundstrat’s Tom Lee On Why The Bulls Are Winning 4/14/23

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 14 April 2023

⏱️ 45 minutes

🧾️ Download transcript

Summary

Averages closed negative today but ended the week in the green. Fundstrat’s Tom Lee gave his case for why the bulls are currently in control. Barclays’ Jason Goldberg breaks down the sharp move higher in JPMorgan shares while looking ahead to next week’s earnings reports from the regional banks. It was a busy week of economic macro data and Fedspeak. Ned Davis Research’s Alejandra Grindal on what it all means. Krispy Kreme CEO Michael Tattersfield on food and labor costs, plus the state of the consumer. Boeing shares slide after announcing a delivery slowdown and Cowen’s Cai Von Rumohr rates the stock impact. Our Pippa Stevens on why California’s solar boom may be ending and Meg Tirrell on Catalent’s major stock slide. Plus, Jon on the growing importance of technology in education and Morgan on SpaceX’s Starship.

Transcript

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0:00.0

Well off those lows you got a scorecard on Wall Street but winter stay late

0:04.9

welcome to closing bell overtime I am John Fort with Morgan Brennan and we

0:09.4

are awaiting breaking news from the Fed on the bank balance sheets this hour we are going

0:13.7

to bring that to you and we'll preview the key regional bank earnings that are

0:17.1

coming next week and there are many of them.

0:19.3

Yeah plus talk about dollars to donut shares of crispy cream up more than 40% this year.

0:25.3

We're going to talk to the company CEO about a whole lot including Sweet Returns and

0:29.6

his outlook going forward.

0:31.6

Well let's get straight to the market action with our first

0:33.8

guest joining us now is Funstrats Tom Lee. Tom great to have you on the show it was a

0:38.4

down day for the major averages but we still managed to eke out gains here.

0:42.6

I want to get your thoughts on the levels,

0:44.8

especially given the fact that so many folks are bearish,

0:46.8

but you are not.

0:49.5

Yes, I mean, it's, I would say this is a week

0:52.4

where the bullish narrative succeeded because we had some

0:56.3

decent inflation prints you know we've had some market sell-off in the middle of the week because of Fed commentary and the

1:04.9

FOMC minutes about a recession potentially, but the stock market actually ended up

1:10.7

higher for the week and I think it just shows that as much as

1:14.1

sort of a logic and intuition tell people that were going to have a recession

1:19.0

number one earnings have actually delivered better.

1:23.3

I mean we had some good bank earnings today in fact if you look at two years stacked

...

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